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Non-manufacturing activity hits record high in August

September 04, 2014

Economic activity in the U.S. non-manufacturing sector grew in August at a faster rate than July. The Institute for Supply Management’s non-manufacturing index rose to a reading of 59.6 in August from July’s reading of 58.7. August’s reading is the highest reading for the index since it began in January 2008. Readings above 50 indicate growth.

The employment portion of the index rose to a reading of 57.1 in August, up from July’s reading of 56.0 percent, indicating growth for the sixth consecutive month and at a faster rate.